The Regulations on Business Accounts - NAFCU
Apr 29, 2019 · The NAFCU Regulatory Compliance Team regularly gets asked whether federal regulations apply to business deposit accounts. Most consumer protection rules do not apply to deposit accounts held by a business. Let’s talk about what rules do and do not apply to accounts held by businesses.
Credit Cards for Business Purposes: When Reg Z Actually Does Apply - NAFCU
Mar 25, 2019 · One of the key principles we teach at Compliance School is that most of the consumer regulations (TISA, Reg E, Reg X, Reg Z, etc.) do not apply to business-purpose accounts. These rules generally leave it up to the credit union to determine when an account is opened for a business purpose.
The Regulations on Business Loans - NAFCU
May 15, 2019 · Today we will touch on several regulations related to lending and their applicability to business loans. Most consumer protection rules do not apply to loans held by a business or an individual when made for business purposes.
Final Regulation Summaries - NAFCU
Jul 28, 2023 · Our Final Regulation Summaries are member-only resources that include full text and summaries for final rulemakings that affect credit unions. NAFCU and CUNA are now America’s Credit Unions, a unified voice to advance the credit union industry.
Compliance Blog answers questions on business account regulations …
In the latest Compliance Blog post, NAFCU's Elizabeth LaBerge highlights what credit unions need to know about federal regulations on business accounts.
Adverse Action Notice Requirements for Business Credit Applicants - NAFCU
Aug 17, 2020 · Today’s blog will solely focus on the Regulation B adverse action requirements as they pertain to business credit applicants. The Fair Credit Reporting Act’s (FCRA) adverse action notice requirements only apply to individual consumers.
Compliance Monitor covers serving business accounts - NAFCU
Jun 16, 2020 · As serving businesses can present a unique set of compliance challenges for credit unions, the June edition of NAFCU's Compliance Monitor – now available in a digital format – features a refresher on which federal laws and regulations apply to business accounts.
Business loan regulations explained in new Compliance Blog
May 15, 2019 · LaBerge provides in-depth analyses on several key regulations, including: NCUA's lending regulation; Regulation B; Fair Housing Act; FCRA/Regulation V; Truth in Lending; RESPA/Regulation X; HMDA/Regulation C; Regulation P; E-Sign Act; BSA and OFAC; and; state laws and other considerations.
Blasts from the Past – Resources on Serving Business Accounts
Apr 14, 2020 · There are customer due diligence (CDD) obligations to consider with regard to offering business accounts, including gathering information about a business’s beneficial owners. A variety of past blogs on CDD obligations can be found here .
NAFCU writes to SBA on affiliation, lending criteria for business …
Dec 28, 2022 · NAFCU Regulatory Affairs Counsel James Akin wrote to the Small Business Administration (SBA) yesterday in response to the agency’s proposal to change regulations governing SBA's 7(a) Loan Program and 504 Loan Program.